ABOVE-AVERAGE FIRST QUARTER - MORE MOMENTUM THAN SAME QUARTER LAST YEAR
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The Essen office market recorded take-up of 27,000 sqm after the first three months of 2025, exceeding the long-term average by 13% (24,000 sqm) and the very weak prior-year result.
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The Essen market, which is usually characterized by medium-sized and small lettings, was already able to report a major contract of 13,000 sqm. Consequently the large-volume segment of over 10,000 sqm recorded significantly above-average market share of 48% (10 years: 22%). The size category of medium-sized spaces between 1,000 sqm and 2,000 sqm also made an above-average contribution to the overall result, at 20% or around 5,300 sqm in both relative and absolute terms. However, the smaller and medium-sized segments contributed somewhat less than usual to take-up, at least in absolute terms. After only three months, however, this is more of a snapshot.
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High demand and the limited supply of modern, high-quality space in central locations have led to an increase of 3% in prime rents to now €18.50 per sqm. It is being achieved for high-quality space in the Südviertel. The generally more volatile average rent has also risen by 3% and currently stands at €13.20 per sqm.